Weekly Market Report
Mark Dyson, Managing Director
Spring flush adds pressure
9 October 2015
The spring flush is seeing a steady increase in the number of bales hitting the market and this week the added pressure resulted in a 22 cents per kilogram loss for the Eastern Market Indicator (EMI).
For the first time in the six months the EMI dropped below 1200c/kg, closing at 1195c/kg clean after 40,052 bales were offered to the market, with 12.4 per cent passed-in.
While the better types still found good buyer support, there were falls right across the board.
In the finer end of the catalogue, losses were in the order of 7-33c/kg with the 18.5 micron guide taking the biggest hit, coming to rest at 1355c/kg.
The medium types saw 15-29c/kg shaved off the bottom line and the 20 micron guide dropped 23c/kg to 1246c/kg.
Crossbreds were hit hard, losing 28-40c/kg while skirtings shed 30c/kg for the week.
Cardings eased by 23c/kg to close at 1070c/kg.
Next week’s offering is expected to increase further, with 46,032 bales scheduled to go under the hammer.